Cello hikes dividend after fruitful second half

Marketing firm Cello Group said after a challenging first half, it recovered strongly in the second half, as it looks forward to further progress in the current year.

Marketing firm Cello Group said after a challenging first half, it recovered strongly in the second half, as it looks forward to further progress in the current year.

Gross profit rose 7.2% to £65.1m for the year to December 31st 2012 with like-for-like gross profit up 2.6% despite the challenging first half.

Headline operating profit fell to £7.7m from £7.8m while headline pre-tax profits slipped to £7.0m from £7.1m.

Chief executive Mark Scott said: "2012 has seen the group continue to grow its pharmaceutical expertise in the UK and overseas markets. The recent acquisition of Mash Health, combined with centralised new business activity and further organic investment, will continue this progress into 2013."

"We are confident that both these factors will combine to deliver a successful 2013 performance and as an indicator of that confidence we have raised the dividend by 16.3%, the sixth successive year of dividend growth."

Cello said momentum is continuing in the early stages of the current year.

The group has proposed a full year dividend of 2.0p per share compared to 1.72p last time.

CJ

Recommended

Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Three hidden gems from Japan’s overlooked stockmarket
Share tips

Three hidden gems from Japan’s overlooked stockmarket

Professional investor Eiji Saito of JPMorgan’s Japan Small Cap Growth & Income fund picks three promising stocks from Japan's vibrant but under-resear…
13 Sep 2021
Share tips of the week – 10 September
Share tips

Share tips of the week – 10 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
10 Sep 2021

Most Popular

Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
How you can profit from the power of the grey pound
Share tips

How you can profit from the power of the grey pound

Higher life expectancy and surging asset prices have proved a boon for the baby-boomer generation, which has accumulated vast wealth. Younger generati…
10 Sep 2021